Nevada KING Announces 13,100 Metre, Phase Ii Drill Program Targeting High- Grade GOLD at Its 100% Owned Atlanta GOLD MINE, Battle Mountain Trend, Nevada "Hold ON to Your Hats!"
NEVADA KING ANNOUNCES 13,100 METRE,
PHASE II DRILL PROGRAM TARGETING HIGH-
GRADE GOLD AT ITS 100% OWNED ATLANTA
GOLD MINE,
BATTLE MOUNTAIN TREND,
NEVADA
"HOLD ON TO YOUR HATS!"
VANCOUVER, BC
,
Feb. 10, 2022
/CNW Telbec/ -
Nevada King Gold Corp.
(TSXV: NKG)
(OTCQX: NKGFF)
("
Nevada King
" or the "
Company
") is pleased to announce its 2022 drilling plan
at the Company's 100% owned Atlanta Gold Mine, located 264km northeast of
Las Vegas
at the
southern end of the Battle Mountain Trend.
Highlights
Following up on the Company's recently completed Phase I drill program (62 RC holes totaling
5,065m
),
Nevada King
will initiate in early April a
100-hole, Phase II drill program totalling
13,100m
(43,000ft), comprising
10,000m
of RC drilling and
3,100m
of core drilling.
This Phase II program will step-out and test the new high-grade discovery below the old
Atlanta
pit; which returned
5.34 g/t Au over
54.9m
,
3.94 g/t Au over
41.2m
, and
3.35 g/t Au over
64.1m
from 3 holes
all starting at surface.
The program will also test additional high-priority
targets over 1.2km of strike.
Historical drilling along the old Altanta pit includes major gaps and areas where drilling did not
continue deep enough to fully penetrate projected high-grade core zones.
Nevada King's
2022 drilling is designed to (1) drill various gaps within the current resource zone,
(2) step-out on defined gold mineralization to connect it to proximate high-grade intercepts,
including from the Company's recent drilling, and (3) expand other areas of drill defined high-
grade mineralization into areas of low historical drill density, such as at the southern end of the
historical pit as well as between the historical pit and discovery hole AT21-003 (
which returned 8.26 g/t Au over
9.1m
, released
November 22, 2021
), located
560m
north along
strike. Step-out holes from AT21-003 will track the mineralization further northward.
Based on re-interpretation of the
Atlanta
geological model (as described in the Company's
January 20, 2022
release
) incorporating high-grade discovery intervals from its Phase I
program, the Company is optimistic this Phase II drilling can result in a significant increase in the
gold resource base at
Atlanta
. This potentially could include significant additions to
mineralization within the current resource constraining pit shell, as well as expansion of the the
resource outside of this pit shell.
Cal Herron
, Exploration Manager of
Nevada King Gold
, stated, "
Nevada King's
maiden 2021 drill
program at
Atlanta
was a tremendous success. Drilling has demonstrated the potential for
significantly adding gold resource north, east, and south of the
Atlanta
pit as well as shallow, high-
grade potential along the Atlanta Mine Fault Zone and extending down-dip to the west. It is now time
to move forward with a far more ambitious and extensive program directed toward expanding the
property's higher-grade potential both for its open pit and then underground mining scenarios. The
2022 drill program will utilize the same basic strategy that was used in 2021 – step off of known
mineralization following gold gradients and geological vectors, thereby minimizing condemnation
holes and maximizing "bang for our buck". With the experience gained in 2021,
Nevada King
is now
well positioned to substantially increase both grade and tonnage at
Atlanta
, and we anticipate an
exciting 2022 season. Hold on to your hats!"
Figure 1.
Location of planned 2022 drill holes and targets relative to previous drilling and Gustavson
2020 gold resource. (CNW Group/Nevada King Gold Corp.)
Metallurgical Testing
The Company has initiated a rigorous cyanide solubility testing program encompassing all of its 2021
drilling and extending to historical drill pulps currently in storage at the Company's large warehouse
in
Winnemucca
, NV. Historical cyanide testwork almost exclusively focused on high-grade zones
within the historical pit and involved only a handful of bottle roll and small column tests. The 2022
testing program will include shallow, high-grade oxide mineralization along the Atlanta Mine Fault
Zone together with the shallow, low-grade mineralization occurring north, east, and south of the
Gustavson 2020 resource zone.
2021 Drilling Recap
Nevada King's
2021 drill program confirmed and found additional low grade mineralization occuring
north, east, and south of the Gustavson 2020 resource that could potentially add significant resource
and decrease the overall strip ratio. It also found shallow, high-grade oxide gold mineralization along
the Atlanta Mine Fault Zone within the historical
Atlanta
pit and
560m
north of the pit. Importantly,
both of these areas of high-grade gold mineralization were previously unknown and hence were not
included in the Gustavson 2020 resource model. This demonstrates good potential for defining
additional shallow resource northward along the Atlanta Fault, but at a higher grade than previously
indicated by historical drilling.
The shallow high grade intercepts in holes AT21-062 through AT21-066 (released
January 12, 2022
and
January 20, 2022
) drilled at the bottom of the
Atlanta
pit not only tied surface high-grade values
to deeper, high grade zones within the Gustavson 2020 resource zone, but more importantly it
opened
Nevada King's
eyes to the possibility of finding much more high-grade material along the
Atlanta Mine Fault Zone, both at shallow levels and extending to depths of
300m
and greater.
Historical drill exploration for high grade zones deeper than
250m
was severely hampered by lost
circulation when the bit either entered the silicified breccia zone hosting most of the gold values, or
entered high grade core zones within the breccia horizon. The Company ran into this same problem
in its 2021 drilling and lost several holes short of the higher-grade zones. Even when the drill does
fully penetrate the mineralized zone, serious recovery problems within the mineralization are
common, as evidenced by missing intervals in historical core, gaps in chip trays where poor recovery
precluded placement of chips into tray compartments, and notes on historical logs. Relatively few
historical holes at
Atlanta
successfully transited the deep, higher-grade mineralization within the
silicified breccia horizon and avoided recovery problems. Consequently, we currently have a very
incomplete picture of the high-grade potential.
2022 Drilling Overview
Nevada King's
2022 program is designed to provide a much better approximation of the high-grade
potential by utilizing vertical, cased RC pre-collar holes together with HQ and PQ core tails through
the mineralized horizon. We know where the targets are, it is now simply a matter of maintaining a
high degree of drill recovery within the mineralization to allow for representative and continuous gold
assays.
The program consists of
13,100m
in 100 holes, divided into
10,000m
of vertical RC drilling and
3,100m
of vertical core drilling. Pre-collar holes drilled through overburden comprise much of the RC
meterage while core tails through the silicified breccia horizons hosting most of the higher gold
grades account for the core meterage. This new program will focus more on expanding high-grade
mineralization along and west of the Atlanta Mine Fault Zone, starting at high-grade holes drilled in
2021 and progressively moving along strike and down dip to the west. Numerous historical holes
failed to fully penetrate the higher-grade core zones at depth, so
Nevada King's
2022 drilling will also
involve re-drilling these gaps within the overall resource zone, tying them into adjacent high-grade
intercepts, and expanding the known high-grade mineralization into areas of low historical drill
density.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by
Calvin R. Herron
, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 ("
NI
43-101
").
About Nevada King Gold Corp.
Nevada King
is the third largest mineral claim holder in the
State of Nevada
, behind
Nevada Gold
Mines
(Barrick/Newmont) and
Kinross Gold
. Starting in 2016 the Company staked large project
areas hosting significant historical exploration work along the
Battle Mountain
trend located close to
current or former producing gold mines. These project areas were initially targeted based on their
potential for hosting multi-million ounce gold deposits and were subsequently staked following a
detailed geological evaluation. District-scale projects in
Nevada King's
portfolio include (1) the 100%
owned Atlanta Mine, located 100km southeast of
Ely
, (2) the Lewis and Horse Mountain-Mill Creek
projects, both located between
Nevada Gold Mines'
large
Phoenix
and Pipeline mines, and (3) the
Iron Point project, located 35km east of
Winnemucca, Nevada
. The Atlanta Mine is a historical gold-
silver producer with an NI 43-101 compliant pit-constrained resource of 460,000 oz Au in the
measured and indicated category (
11.0M
tonnes at 1.3 g/t) plus an inferred resource of 142,000 oz
Au (
5.3M
tonnes at 0.83 g/t). See the NI 43-101 Technical Report on Resources titled "Atlanta
Property,
Lincoln County, NV
" with an effective date of
October 6, 2020
, and a report date of
December 22, 2020
, as prepared by Gustavson Associates and filed under the Company's profile on
SEDAR (
www.sedar.com
).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statements Regarding Forward Looking Information
This news release contains certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable securities legislation.
All statements, other than statements of historical fact, included herein, without limitation,
statements relating the future operations and activities of
Nevada King
, are forward-looking
statements. Forward-looking statements are frequently, but not always, identified by words such as
"expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar
expressions, or statements that events, conditions, or results "will", "may", "could", or" should"
occur or be achieved. Forward-looking statements in this news release relate to, among other
things, the Company's exploration plans and the Company's ability to potentially expand mineral
resources and the impact thereon. There can be no assurance that such statements will prove to
be accurate, and actual results and future events could differ materially from those anticipated in
such statements. Forward-looking statements reflect the beliefs, opinions and projections on the
date the statements are made and are based upon a number of assumptions and estimates that,
while considered reasonable by
Nevada King
, are inherently subject to significant business,
economic, competitive, political and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance or achievements to be materially
different from the results, performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made assumptions and estimates based
on or related to many of these factors. Such factors include, without limitation, the ability to
complete proposed exploration work given the global COVID-19 pandemic, the results of
exploration, continued availability of capital, and changes in general economic, market and
business conditions. Readers should not place undue reliance on the forward-looking statements
and information contained in this news release concerning these items.
Nevada King
does not
assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or
other factors, should they change, except as required by applicable securities laws.
SOURCE
Nevada King Gold Corp.
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For further information:
contact Collin Kettell at [email protected] or (301) 744-8744.
CO: Nevada King Gold Corp.
CNW 07:30e 10-FEB-22